Exhibit 10.07
Middletown
July 6, 2007
Xxxxx Xxxxxx
ASB Wallkill, LLC
c/o Decorative Product Source, Inc.
0 Xxxxxx Xxxxx, Xxxxx 0
Xxxxxx, XX 00000
Subject: Second Lease Amendment Agreement
Premises: MIDDLETOWN, New York, 00 Xxxxxxx
Xxxx (Approximately 38,000 square feet as
described in Schedule A of the May 1, 1998
Lease Agreement plus the office suite
described in the November 2003 Amendment
Letter)
Lease History:
a. November 2003 Amendment Letter
(the "Amendment Letter")
b. Assumption (and Modification)
of Lease dated September 30, 2003
(the "Assumption of Lease
Agreement")
c. Lease dated May 1, 1998 (the
"Lease Agreement")
Dear Xx. Xxxxxx:
With regards to the above Lease Agreement and amendments and/or modifications
thereto, by and between ASB Wallkill, LLC ("Landlord") and The RAL Supply Group,
Inc. ("Tenant"), Tenant hereby agrees to amend the terms of the subject Lease
Agreement and amendments and/or modifications thereto as follows:
1. As of July 1, 2007, Schedule A of the Lease Agreement and amendments
and/or modifications thereto is hereby modified and amended to include
two billboards in the Town of Wallkill, Orange County, New York with a
Fixed Minimum Annual Rent to be $12,000 per year ($1,000 per month)
which on July 1, 2008 and each year thereafter shall be adjusted for
CPI Index increases as described in Schedule B
of the Lease Agreement and amendments and/or modifications thereto,
except that the Base Month for calculation of this increase shall be
May 2007.
2. The Term of the Lease Agreement and amendments and/or modifications
thereto shall be and is hereby extended for a term of ten (10) years
commencing May 1, 2008 and ending April 30, 2018.
3. The Renewal Terms as described in paragraph 1.3 of the Lease Agreement
and amendments and/or modifications thereto shall be and are hereby
modified to provide an option to extend the Term of the Lease for one
(1) period of five (5) years with the same terms and conditions as
described in the Lease Agreement and amendments and/or modifications
thereto. Said renewal, if exercised as described within the terms of
the Lease Agreement and amendments and/or modifications thereto, as
amended, shall extend the Lease Agreement and amendments and/or
modifications thereto from May 1, 2018 to April 30, 2023.
4. The validity of the Lease Agreement and amendments and/or
modifications thereto shall be governed by the laws of the State of
New York.
All other terms and conditions of the aforementioned Lease Agreement and
amendments and/or modifications thereto shall remain in full force and effect.
If this agrees with your understanding, kindly sign below.
Sincerely, Agreed and Accepted:
The RAL Supply Group, Inc. f/k/a RAL ASB Wallkill, LLC
Purchasing Corp.
By: /s/ Xxxxxxx Xxxxxx By: /s/ Xxxxx Xxxxxx
-------------------------------- ---------------------------------
Xxxxxxx Xxxxxx, Executive VP Xxxxx Xxxxxx, Managing
Member (President)
